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RTI Surgical reported 3Q19 orthopedic revenue of USD $65.7 million, +10.7% vs. 3Q18.
- RTI Surgical downgraded 2019 full-year guidance from a range of $325-$335 million to $305-$310 million
- Sales of legacy spine products, such as the Fortilink interbody fusion device, slowed and were impacted by the loss of a key customer due to hospital consolidation (estimated impact of -$0.5 million in the quarter); RTI is focused on rapidly driving R&D efforts to refresh its legacy spine portfolio
- Weather-related disruptions in Florida and Texas had a revenue impact of approximately $1 million in the quarter
- The newly launched CervAlign ACP system is driving pull-through for Fortilink-C
- Launched the Hybrid Performance System 2.0 for spinal fusion in Australia and Europe, while also submitting a 510(k) application to FDA for the Fortilink-A with TETRAfuse 3D technology; a 510(k) application for a navigation system for the Streamline MIS fixation system is expected soon
- Continues to build out its commercial sales structure and drive adoption for Novel Therapies business that includes coflex Interlaminar Stabilization and SImmetry SI joint fusion devices; revenue contribution from coflex for the quarter was approximately $8.2 million
- Revenue expectation for 2019 from the Paradigm acquisition is trending closer to $30 million than the previously projected $40 to $45 million
- ORTHOWORLD projects RTI Surgical full year 2019 orthopedic revenue of $266.6 million, +10.6% vs. 2018
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 3Q19 | 3Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $28.5 | $24.5 | $4.0 | 16.4% |
| Orthobiologics | $37.3 | $34.9 | $2.4 | 6.8% |
| Total | $65.7 | $59.4 | $6.4 | 10.7% |
| 9Mo 19 | 9Mo 18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $85.3 | $70.5 | $14.8 | 21% |
| Orthobiologics | $112.1 | $109.1 | $3.0 | 2.7% |
| Total | $197.4 | $179.6 | $17.7 | 9.9% |
Geographic Sales
| 3Q19 | 3Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $59.3 | $54.2 | $5.1 | 9.4% |
| Ex-US | $6.4 | $5.1 | $1.3 | 25.1% |
| Total | $65.7 | $59.4 | $6.4 | 10.7% |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $76.1 | |
| Cost of Sales | ($34.6) | 45.5% |
| Selling and Admin | ($37.1) | 48.7% |
| R & D | ($4.3) | 5.6% |
| Other | ($5.0) | 6.5% |
| Net Earnings | ($4.9) | (6.4%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
RTI Surgical reported 3Q19 orthopedic revenue of USD $65.7 million, +10.7% vs. 3Q18.
RTI Surgical downgraded 2019 full-year guidance from a range of $325-$335 million to $305-$310 million
Sales of legacy spine products, such as the Fortilink interbody fusion device, slowed and were impacted by the loss of a key customer due to...
RTI Surgical reported 3Q19 orthopedic revenue of USD $65.7 million, +10.7% vs. 3Q18.
- RTI Surgical downgraded 2019 full-year guidance from a range of $325-$335 million to $305-$310 million
- Sales of legacy spine products, such as the Fortilink interbody fusion device, slowed and were impacted by the loss of a key customer due to hospital consolidation (estimated impact of -$0.5 million in the quarter); RTI is focused on rapidly driving R&D efforts to refresh its legacy spine portfolio
- Weather-related disruptions in Florida and Texas had a revenue impact of approximately $1 million in the quarter
- The newly launched CervAlign ACP system is driving pull-through for Fortilink-C
- Launched the Hybrid Performance System 2.0 for spinal fusion in Australia and Europe, while also submitting a 510(k) application to FDA for the Fortilink-A with TETRAfuse 3D technology; a 510(k) application for a navigation system for the Streamline MIS fixation system is expected soon
- Continues to build out its commercial sales structure and drive adoption for Novel Therapies business that includes coflex Interlaminar Stabilization and SImmetry SI joint fusion devices; revenue contribution from coflex for the quarter was approximately $8.2 million
- Revenue expectation for 2019 from the Paradigm acquisition is trending closer to $30 million than the previously projected $40 to $45 million
- ORTHOWORLD projects RTI Surgical full year 2019 orthopedic revenue of $266.6 million, +10.6% vs. 2018
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 3Q19 | 3Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $28.5 | $24.5 | $4.0 | 16.4% |
| Orthobiologics | $37.3 | $34.9 | $2.4 | 6.8% |
| Total | $65.7 | $59.4 | $6.4 | 10.7% |
| 9Mo 19 | 9Mo 18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $85.3 | $70.5 | $14.8 | 21% |
| Orthobiologics | $112.1 | $109.1 | $3.0 | 2.7% |
| Total | $197.4 | $179.6 | $17.7 | 9.9% |
Geographic Sales
| 3Q19 | 3Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $59.3 | $54.2 | $5.1 | 9.4% |
| Ex-US | $6.4 | $5.1 | $1.3 | 25.1% |
| Total | $65.7 | $59.4 | $6.4 | 10.7% |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $76.1 | |
| Cost of Sales | ($34.6) | 45.5% |
| Selling and Admin | ($37.1) | 48.7% |
| R & D | ($4.3) | 5.6% |
| Other | ($5.0) | 6.5% |
| Net Earnings | ($4.9) | (6.4%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
